Saudi Venture Capital firm Saudi Aramco Energy Ventures (SAEV) has invested $10 million and $26 million in two US firms; Maana and NanoMech.
Maana, based in California, is an analytics platform that turns big data insights into line-of-business applications and has received $26 million in Series B funding led by SAEV. NanoMech, based in Arkansas, uses nanotechnology to develop advanced products for industrial and mechanical applications and has raised $10 million from SAEV. (SAEV is the corporate venturing subsidiary of Saudi Arabian Oil Company, Saudi Aramco. As DubaiBeat reported back in 2012 on its launch, its investments range from $1 million to $30 million per company).
SAEV is listed in the Middle East Investors Directory with the code SINOC23.
More details follows:
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